SPEC Kit 320: Core Benefits (November 2010)
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SPEC Kit 320: Core Beneﬁts · 11 EXECUTIVE SUMMARY Introduction In 2009, ARL surveyed member libraries on sick, vacation, and holiday leave, and financial support and leave for professional development, employee education and training, and internships—benefits over which library administrators would typically have some plan design authority. This survey investigated the core employment benefits of retirement, and life, health, and other insurance—benefits that are typically decided by the parent institution and often have significant governmental regulation. The survey was conducted between March 9 and April 23, 2010. Fifty-six of the 124 ARL member libraries completed the survey for a response rate of 45%. Beneﬁts Offered and Eligibility The survey began by asking whether retirement, life and/or accidental death and dismemberment (ADD) insurance, or health insurance were offered to library employees. All 56 respondents indicated that retirement benefits and health insurance were offered. All but one indicated life and/or ADD insurance were offered. Respondents were asked to report the minimum number of hours per week library staff members must work to qualify for the benefit and the minimum number of months of employment a new library staff member must work in order to become eligible. Retirement Twenty hours per week was the most commonly reported minimum number of hours required to qualify for retirement benefits (20 of 54 respondents or 37%). Ten respondents (19%) indicated the employee must work 30 hours or more per week (.75 FTE or greater) to qualify. Eight (15%) indicated no minimum hours per week to qualify. Thirty-nine of 55 respondents (71%) indicated no minimum service period for retirement benefits eli- gibility. Ten (18%) indicated minimum service periods for eligibility of 12 months or less. Only six (11%) require more than one year of service for eligibility. Life and/or ADD Insurance Twenty hours per week was the most commonly reported minimum number of hours required to qualify for life and/or ADD insurance (21 of 53 respondents or 40%). Nine respondents (17%) indicated the employee must work 30 hours or more per week (.75 FTE or greater) to qualify. Nine others indicated no minimum hours per week to qualify. Forty-two of 53 respondents (79%) indicated no minimum service period for life and/or ADD insurance eligibility. Eight (15%) indicated minimum service periods of 12 months or less for eligibility. Only three (6%) require more than one year of service for eligibility. Health Insurance Twenty hours per week was the most commonly reported minimum number of hours required to qualify for health insurance (22 of 54 respondents or 41%). Nine respondents (17%) indicated the employee must work 30